Saudi Arabia

Saudi Arabia's Public Investment Fund made one of the biggest acquisitions in the history of the video game industry. What Happened: The fund, through its subsidiary Savvy Games, bought Scopely, an interactive entertainment company and mobile-first video game developer and...

As the balance of power between China and the U.S. continues to shift, heads of state across the globe are making choices to either steer away or get closer to each of the world's two largest economies. In South East Asia and the Middle East, a trend to reduce reliance on the U.S. and a decades-old...

Saudi Arabia is making a $38 billion bet on the potential of its gaming industry, as the country seeks to reduce its dependence on oil revenues, reported Bloomberg. The investment is being made by the Saudi Arabian Public Investment Fund with the aim of establishing the country as a significant...

The U.S. on Sunday criticized the surprise oil output cuts by Saudi Arabia and other OPEC+ countries. What Happened: The Biden administration said the oil output cuts were not advisable given the uncertain market conditions.  "We don't think cuts are advisable at this...

OPEC+, a consortium comprising 22 oil-producing nations, announced Sunday an unexpected production cut that will likely give a further boost to oil prices bouncing off their recent lows. What Happened: The combined cut announced by the oil consortium will be around 1.16 million...

SpaceX CEO Elon Musk said that reports on his space exploration company planning on investments from Saudi Arabia and UAE investors is “not true.” What Happened: “Not True,” Musk Responded to Teslarati’s report on SpaceX planning investment from Saudi Arabia and UAE...

Elon Musk‘s SpaceX is reportedly looking at investment from a unit of Saudi Arabia‘s investment fund and an Abu Dhabi based company. What Happened: Badeel — Saudi Arabia's Water and Electricity Holding Company, which is part of the country's Public Investment Fund — and the United Arab...

Boeing Co. (NYSE: BA) may be on the brink of securing a substantial order this year. What Happened: Saudi Arabia’s Public Investment Fund is close to finalizing a new order with Boeing, which is estimated to be worth around $35 billion, The Wall Street Journal reported, citing people...

While recent moves by Saudi Arabia pointed out the souring ties between the U.S. and its middle eastern ally, it seems Riyadh aligns with Washington when it comes to the Russia-Ukraine war.  What Happened: After voting in favor of a United Nations General Assembly resolution that calls for Russia...

Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, reportedly said on Monday that decisions by the Organization of the Petroleum Exporting Countries and its allies (OPEC+) are not politicized and are based on market fundamentals, adding that the alliance is sufficiently...

Billionaire Elon Musk made sports headlines in August 2022 with a tweet that he was buying English Premier League team Manchester United. Musk said the tweet was a joke, but new reports indicate that he may be taking a closer look at the team. Here’s the latest on the potential sale...

Saudi Arabia is preparing to send its first female astronaut to space this year. What Happened: The official Saudi Press Agency on Sunday announced that Rayyanah Barnawi will be joining fellow male astronaut Ali Al-Qarni on a mission to the International Space Station, or ISS, “during the...

Amid souring U.S.-Saudi ties, Xi Jinping's minister is looking to shore up the Crown Prince on his side by offering to build stronger ties with the Gulf nation. What Happened: China’s new foreign minister Qin Gang offered to set up a China-Gulf free trade zone “as soon as possible,...

While Cristiano Ronaldo‘s splashy move to join Saudi Arabia club Al Nassr on a lucrative compensation package last month was the talk of the town, the Saudi switch of the five-time Ballon d’Or winner also brought attention to an Asian football shift. What Happened: Since the beginning...

President Joe Biden has reportedly said there would be “consequences” for Saudi Arabia for collaborating with Russia to trim oil production, an indication that cracks have appeared in the relationship between the two long-time allies. What Happened: Biden told CNN...